EOFY Capital Gains Checklist for Australian Share Investors
The end of the financial year is when capital gains tax becomes real. Every share sale you made between 1 July and 30 June is a CGT event, and the numbers you report need to be accurate, complete, and backed by documentation.
Whether you trade ASX stocks, US shares, or both, getting your EOFY capital gains in order before you lodge saves time, reduces errors, and can genuinely lower your tax bill — especially if you haven't yet considered which parcel allocation method to use.
This EOFY capital gains checklist walks you through the nine steps every Australian share investor should complete before handing anything to their accountant.
Your 9-step EOFY capital gains checklist
1. Gather your broker statements
Start by exporting your full transaction history from every broker — not just the current financial year. To calculate the cost base of shares sold this year, the original purchase transactions are needed, which may be from earlier financial years. The more history included in the export, the more accurate the calculations.
Most platforms let you download a CSV file covering all buys and sells. If multiple brokers are used, each one needs a separate export. CGT Strategist natively supports CSV formats from Superhero, SelfWealth, and NAB Trade. Other brokers are supported via the custom mapping tool or generic CSV template.
Don't wait until October. Broker platforms occasionally change their export formats or retention periods, so download your statements as soon as the financial year ends.
2. Identify all disposals in the financial year
A disposal is any share sale (or other CGT event) that occurred between 1 July and 30 June. Every disposal needs to be accounted for — even small ones, even ones that resulted in a loss.
Check for disposals you might have forgotten: corporate actions like takeovers or demergers, in-specie transfers, and share buybacks can all trigger CGT events.
3. Check your parcel allocation method
When shares purchased in multiple lots are sold, the question is which parcels are treated as disposed of. The default is FIFO (first in, first out), but the ATO allows specific parcel selection if you maintain adequate records.
The method you choose can significantly affect your capital gain. Before you finalise anything, compare the outcomes.
Read more: CGT Parcel Selection Methods Explained for Australian Investors
4. Calculate the cost base for each disposal
For each disposal, the cost base includes the original purchase price plus buy brokerage. Sell brokerage separately reduces your capital proceeds.
For US shares, the cost base also needs to be converted to AUD using the exchange rate at the date of purchase. The ATO publishes monthly exchange rates for this purpose.
See: How to Calculate Capital Gains Tax on US Shares in Australia
5. Check which gains qualify for the 50% CGT discount
The 50% CGT discount applies to capital gains on shares held for at least 12 calendar months. The holding period is measured from the day after you acquired the shares to the date of disposal.
Go through each disposal and confirm whether the parcel sold was held long enough to qualify. If you're using specific parcel selection, you may be able to choose a parcel that qualifies for the discount over one that doesn't.
6. Review corporate actions and AMIT adjustments
Corporate actions can change your cost base without you realising it. Common examples include:
- Share splits — your total cost base stays the same but is spread across more shares
- Return of capital — reduces your cost base (and can even push it below zero)
- Mergers and demergers — your cost base is apportioned between the old and new entities
- Rights issues — may create new parcels with their own cost base
For ETFs and managed funds structured as Attribution Managed Investment Trusts (AMITs), the fund's annual tax statement (AMMA statement) may include cost base adjustments that increase or decrease the cost base of your units. If the cost base is reduced below zero, the excess is treated as a CGT event E10 capital gain.
Check your broker's corporate actions notifications, AMMA statements, and annual tax statements. If a corporate action or AMIT adjustment affected a holding during the year, the cost base calculation needs to reflect it. CGT Strategist supports both corporate actions and AMIT cost base adjustments.
7. Generate your documentation
Your accountant (and the ATO, if they ever ask) needs to see the working behind your numbers. At a minimum, this includes:
- A summary of net capital gains and losses by financial year
- A disposal-by-disposal breakdown showing cost base, proceeds, and gain or loss
- Parcel-level detail showing which lots were allocated to each disposal
- For US shares: the AUD conversion and the exchange rate used
CGT Strategist's Evidence Pack generates all of this automatically — a structured PDF report and Excel workbook covering every disposal, allocation, and FX conversion.
8. Keep records for at least five years
ATO guidance requires CGT records to be retained for at least five years after the relevant tax return is lodged. For shares still held, purchase records are needed for the entire holding period plus five years after eventual disposal.
Store your broker CSVs, Evidence Packs, and any supporting documentation (dividend statements, corporate action notices) in a safe location. Digital copies are fine — the ATO accepts electronic records.
9. Share everything with your tax professional
Give your accountant the full picture: all disposals, all cost base calculations, all supporting records. Don't just hand them a number — provide the workings.
A complete Evidence Pack or equivalent documentation makes their job easier, reduces the chance of errors, and means fewer back-and-forth questions during lodgement.
No subscription, ever.
Upload your broker CSV and model your parcels free.
Unlock your Evidence Pack for $79.99 and regenerate it as many times as you need.
Common EOFY capital gains mistakes
Even experienced investors trip up on these. Before you finalise your EOFY capital gains, watch out for:
Forgetting to apply capital losses
Don't forget to apply capital losses against your gains for the year.
Forgetting to include brokerage in your calculations
Buy brokerage is part of your cost base, and sell brokerage reduces your capital proceeds. Leaving either out means you overstate your capital gain. It's a small amount per trade, but across a year of trading it adds up.
Using the wrong FX rate for US share conversions
For US shares, each transaction must be converted to AUD using the exchange rate at the date of that transaction. Using a single year-end rate or an average rate is not correct. The ATO publishes monthly rates that should be used.
Not reporting capital losses
Even loss-only years need to be reported. Unreported losses cannot be used to offset gains. Reporting all disposals — gains and losses — keeps the records complete.
How CGT Strategist helps with your EOFY preparation
CGT Strategist is designed to take the manual work out of your EOFY capital gains checklist. Upload your broker CSV and the platform handles the rest:
- Parcel matching — every disposal is matched to the correct purchase parcels using FIFO, LIFO, or specific parcel selection
- Cost base and proceeds calculations — buy brokerage in cost base, sell brokerage reducing proceeds, calculated per parcel
- FX conversion for US shares — using ATO-published monthly exchange rates, with clear AUD breakdowns
- 50% CGT discount applied where eligible — exactly as ATO guidance requires
- Evidence Pack generation — a PDF report and Excel workbook covering every disposal, parcel allocation, and FX conversion, ready to hand to your accountant
Modelling is free and unlimited. You only pay ($79.99 incl. GST) when you want to export your Evidence Pack for a given financial year.
Important: CGT Strategist is a calculation tool, not a tax agent. Results are based on the data you provide and should be reviewed by a registered tax professional.
No subscription, ever.
Upload your broker CSV and model your parcels free.
Unlock your Evidence Pack for $79.99 and regenerate it as many times as you need.
Frequently asked questions
When is the EOFY deadline for capital gains tax in Australia?
The Australian financial year runs from 1 July to 30 June. Any shares sold between these dates create a CGT event in that financial year. Individual tax returns are generally due by 31 October, or later if you lodge through a registered tax agent.
Do I need to report capital gains if I only sold shares at a loss?
Yes. Capital losses are still reported in the tax return. They cannot be claimed as a tax deduction, but they can offset capital gains in the same financial year. Records of all disposals are required regardless of whether they resulted in a gain or a loss.
How do I calculate capital gains on US shares for my Australian tax return?
For US shares, the cost base and sale proceeds are converted to AUD using the exchange rate on the date of each transaction. The ATO publishes monthly exchange rates for this purpose. The capital gain or loss is then calculated in AUD, and standard CGT guidance — including the 50% discount for assets held over 12 months — applies.
Can I choose which parcels of shares are sold to reduce my capital gains tax?
Yes. The ATO allows Australian investors to use specific parcel selection, meaning the investor chooses which parcels are treated as sold for CGT purposes. This can significantly affect the tax outcome. Adequate records showing which parcels were selected for each disposal are required.
How long do I need to keep CGT records after EOFY?
ATO guidance requires records of share transactions to be kept for at least five years after the tax return is lodged. For shares still held, purchase records should be kept for the entire period of ownership plus five years after disposal.